The Riyadh Bank was established in 1957. It nearly went bankrupt in 1964, and was only saved when the Saudi Arabian Monetary agency intervened, reformed the management, and took a 38 per cent stake in the bank’s equity.
The “bid two”, the National Commercial Bank and the Riyadh Bank accounted for virtually all banking outlets until 1975, and even in 1980 they still accounted for over 70 per cent of all bank branches in the kingdom.
Mode of Finance
Capital: 1066.7 million USD
(last updated: 25-April-2007)
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